€30.0 million raised for the IPO of ALMAWAVE

Banca Akros acted as Global Coordinator and Joint Bookrunner

The following is a brief description of the ALMAWAVE IPO, which was successfully completed for a total offer amount of approximately €30 million.

• ALMAWAVE is one of Italy’s leading players in the field of artificial intelligence and Big Data services. In over ten years of activity, it has developed proprietary technologies and software platforms for natural language understanding, both written and spoken, in over 30 languages. The Company ended 2019 with Revenues of approximately €21.3 million and EBITDA of approximately €6.2 million (EBITDA margin of approximately 29.3%). The backlog as at 30 September 2020 was €52.6 million.
• The Offer involved newly issued shares for a total value (including Green Shoe, which was also a capital increase) of €30.0 million.
• The IPO price was set at €4.25 per share, valuing the Company at €85 million (equity value before capital increase). The free float will be approximately 26.1% (including Green Shoe).
• The offer period started on 22 February 2021 and ended on 4 March 2021. The first day of trading on Borsa Italiana’s AIM Italia market will be 11 March 2021.
• The income from the share capital increase will be used by ALMAWAVE to accelerate the growth process both internally and externally.
• Banca Akros acted as Global Coordinator and Joint Bookrunner.
• The ALMAWAVE IPO is one of the largest offers ever made on the AIM Italia market and confirms Banca Akros’ role as a key player in the listing of mid-cap companies on the stock exchange.

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